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5 May 2015
US service industry unexpectedly grew at a faster rate in April – ISM report
FXStreet (Mumbai) - The Institute for Supply Management report released on Tuesday showed the non-manufacturing index rose to 57.8, beating the consensus estimate of 56.2, and up from March’s 56.5. Readings above 50.00 indicates expansion in activity.
The employment gauge rose to 56.7, the strongest since October, compared with 56.6 in March, while the new orders index rose to three-month high of 59.2 from 57.8. The business activity index increased to 61.6 from the prior month’s 57.5. The prices paid index declined to 50.1 from 52.4.
The main thrust came from expansion in activity at real-estate firms and restaurants. The non-manufacturing survey covers an array of industries including utilities, retailing, and health care, and also factors in construction and agriculture.
The employment gauge rose to 56.7, the strongest since October, compared with 56.6 in March, while the new orders index rose to three-month high of 59.2 from 57.8. The business activity index increased to 61.6 from the prior month’s 57.5. The prices paid index declined to 50.1 from 52.4.
The main thrust came from expansion in activity at real-estate firms and restaurants. The non-manufacturing survey covers an array of industries including utilities, retailing, and health care, and also factors in construction and agriculture.